BEIJING ¨C Recent price increases in the world¡¯s two largest economies have unnerved global markets, which have become accustomed to the low inflation ¡ª and even deflation ¡ª that has prevailed for decades.
But, at least in China, a little inflation would not be a bad thing.
In the United States, massive government spending during the COVID-19 crisis has raised fears of a financial reckoning, and recent price data are reinforcing these concerns.
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